Rising demand pushes up orders for goods

Friday

Jun 27, 2008 at 12:01 AM

WASHINGTON (AP) - Orders for manufactured goods posted a surprisingly strong increase in April as demand rose across a number of industries.

The Department of Commerce reported today that orders were up 1.1 percent in April after a 1.5 percent increase in March. Orders had fallen in January and March as a spreading slowdown in the overall economy depressed activity in manufacturing.

The April increase came as a surprise. Analysts had been forecasting a small decline.

Orders in the battered auto industry and in the volatile commercial aircraft sector did fall sharply but other areas showed strength from rising demand for iron and steel to increased orders for appliances and heavy machinery. Demand for petroleum was also up sharply, reflecting surging oil prices.

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